The difficulties encountered in multilateral trade negotiations well illustrate the significant obstacles confronting further development of the World Trade System. At the same time, however, Free Trade Agreements (FTAs) become increasingly important. The successful negotiations of the Comprehensive Economic Trade Agreement and the Trans-Pacific Partnership are recent examples of this trend. Will FTAs come to be viewed in the future as the dominant model for international economic integration? This article focuses on the interaction between the World Trade System and FTAs and identifies the prospects for the multilateral system in a constantly changing economic, political and geopolitical environment.
Global Trade and Customs Journal